While still above average, farm income is forecast to fall this year
U.S. farm income will tumble for the second year in a row from the record set in 2022, pulled down by lower commodity prices and rising production costs, forecast the Agriculture Department on Wednesday. Net farm income would fall 25 percent, to $116.1 billion, but still run 15 percent ahead of its 10-year average.
‘We are in for a bumpy time’ with Prop 12, says Vilsack
Agriculture Secretary Tom Vilsack told state agriculture directors to fasten their Prop 12 seat belts on Wednesday because “we’re going to have to get to a point where … chaos becomes really prevalent” in the meat market before there’s a decision on who regulates interstate trade. “We are in for a bumpy time,” he said.
TODAY’S QUICK HITS
Judge nixes dicamba approval: The EPA failed to follow the rules in its 2020 approval of dicamba, a widely used weedkiller, ruled a federal judge in Tucson, Arizona, vacating the herbicide’s registration and putting into question whether dicamba can be used on this year’s crops. (Reuters)
USDA assistant secretary named: Malcolm Shorter was appointed USDA assistant secretary of administration. He had been serving as acting assistant secretary for the past year. (USDA)
Forecast: 1.45 billion chicken wings: Americans are expected to eat 1.45 billion chicken wings during the Super Bowl, roughly the same as last year, said the National Chicken Council, a broiler industry trade group. (NCC)
Grants for food chain resilience: The USDA awarded grants worth $31.2 million to Colorado, Connecticut, Delaware, Kentucky, Louisiana, Utah, and West Virginia for projects to build resiliency in the food chain, bringing the total awarded nationwide to $270 million. (USDA)
